BONDS PAYABLE AND SUKUK IJARAH

PT SUMMARECON AGUNG Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2013 AND DECEMBER 31, 2012, 2011 AND 2010 AND FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2013 AND 2012 UNAUDITED AND YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010 Expressed in thousands of rupiah, unless otherwise stated 100

32. OPERATING EXPENSES

The details of operating expenses are as follows: Six-Month Periods Ended June 30, Years Ended December 31, 2012 2013 unaudited 2012 2011 2010 Selling expenses Promotion and advertising 64,312,390 44,150,385 96,506,424 74,423,129 49,629,633 Sales commissions Note 39p 36,527,175 44,931,242 39,136,142 40,745,075 31,316,176 Salaries and employee benefits 4,186,223 3,411,362 7,147,131 5,290,843 4,628,796 Housing and apartment loans administration 1,160,498 - 4,439,080 2,848,347 5,416,470 Others each below Rp1,000,000 1,539,314 2,571,172 1,090,764 2,421,317 1,702,940 Total selling expenses 107,725,600 95,064,161 148,319,541 125,728,711 92,694,015 General and administrative expenses Salaries and employee benefits 205,126,156 133,372,690 313,905,140 232,932,154 179,350,415 Depreciation Notes 12 and 13 24,063,874 28,183,490 42,632,817 33,952,534 28,656,880 Entertainment, representation and donations 10,173,881 9,566,941 15,284,467 8,212,812 10,091,844 Electricity, water and telephone 7,290,507 3,589,605 6,798,429 6,800,523 5,859,397 Security 6,737,621 5,027,654 10,316,682 10,645,642 5,646,862 Professional fees 5,111,003 2,400,794 8,900,423 5,193,571 5,000,817 Repairs and maintenance 4,817,201 3,234,385 6,379,406 6,706,738 5,164,420 Supplies 4,131,193 1,714,346 1,384,847 2,858,353 686,123 Travelling and transportation 3,514,711 3,713,298 7,541,943 9,316,873 7,197,551 Insurance 1,975,075 1,513,585 2,888,423 1,678,725 2,293,205 Land and building tax 1,968,779 1,426,698 6,536,455 4,572,176 4,617,791 Permit 1,524,715 614,944 1,847,350 2,136,480 917,401 Printing 733,452 202,453 1,392,090 4,137,751 3,516,186 Tax assessment charges Note 21h - - 55,432 4,489,570 2,958,137 Others each below Rp1,000,000 18,039,224 12,725,498 33,648,955 20,650,078 15,356,086 Total general and administrative expenses 295,207,392 207,286,381 459,512,859 354,283,980 277,313,115 Total operating expenses 402,932,992 302,350,542 607,832,400 480,012,691 370,007,130 33. FINANCE COSTS The details of finance costs are as follows: Six-Month Periods Ended June 30, Years Ended December 31, 2012 2013 unaudited 2012 2011 2010 Interest expense: Loans from banks 35,480,515 27,534,186 62,756,794 48,811,613 50,527,327 Bonds payable and sukuk ijarah 20,445,000 21,150,000 42,300,000 43,937,159 46,392,479 Loans from financing institutions 556,937 5,436,360 1,078,603 1,013,538 1,411,526 Others 1,465,527 3,680,589 2,148,558 2,442,115 1,554,200 Total finance costs 57,947,979 57,801,135 108,283,955 96,204,425 99,885,532 PT SUMMARECON AGUNG Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2013 AND DECEMBER 31, 2012, 2011 AND 2010 AND FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2013 AND 2012 UNAUDITED AND YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010 Expressed in thousands of rupiah, unless otherwise stated 102

34. BALANCES AND TRANSACTIONS WITH RELATED PARTIES continued

The Company and Subsidiaries, in their regular conduct of business, have engaged in transactions with related parties. The balances of the receivablespayables arising from the transactions are as follows continued: Amount Percentage to total consolidated assetsliabilities December 31, December 31, June 30, 2013 2012 2011 2010 June 30, 2013 2012 2011 2010 Deposits received - non-current Key management personnel Lexy Arie Tumiwa 1,052,942 - 2,099,196 - 0.0122 - 0.0373 - Soegianto Nagaria - - 4,012,450 864,728 - - 0.0714 0,0217 Harto Djojo Nagaria - - - 360,521 - - - 0,0091 Johanes Mardjuki - - 2,165,715 - - - 0.0385 - G.E. Lilies Yamin - - 2,099,196 - - - 0.0373 - Herman Nagaria - 1,459,222 1,088,169 - - 0.0260 0,0273 Other related parties PT Star Maju Sentosa 6,556,150 - - - 0.0759 - - - PT Maktosa Jaya Indah 977,408 - 2,174,899 378,005 0.0113 - 0.0387 0,0095 Theresia Mareta - - 2,563,290 - - - 0.0456 - Adrianto P. Adhi - - 2,144,340 - - - 0.0381 - PT Centrapacific Nusajaya - - 225,042 721,783 - - 0.0040 0,0181 Total deposits received - non-current 8.586.500 - 18,943,350 3,413,206 0.0994 - 0.3369 0.0857 Total deposits received 16.165.974 19,101,125 23,682,582 3,413,206 0.1892 0.2705 0.4212 0.0857 Due to related parties Due to related parties - current: Joint ventures KSO Summarecon Serpong 151,323,943 184,988,967 124,174,218 105,504,721 1.7521 2.6199 2.2087 2.6495 KSO Summarecon Lakeview 96,750,132 46,416,173 103,414,776 84,416,141 1.1203 0.6574 1.8394 2.1198 PT Lestari Kreasi 50,314,412 11,613,360 - - 0.5826 0.1645 - - JBC 20,752,453 26,962,466 63,118,664 13,191,823 0.2403 0.3819 1.1227 0.3313 PT Telaga Gading Serpong 10,728,766 5,845,536 - - 0.1242 0.0828 - - Key management personnel Soetjipto Nagaria - 28,386,292 - - - 0.4020 - - PT Anugrah Damai Abadi - - - 90,103 - - - 0.0023 Total due to related parties - current 329,869,706 304,212,794 290,707,658 203,202,788 3.8193 4.3085 5.1708 5.1029 Due to related parties - non-current: Key management personnel Herman Nagaria 1,000 1,000 1,000 - 0.0000 0.0000 0,0000 - Other related party PT Duta Putra Mahkota 25,970,000 18,620,000 - - 0.3007 0.2637 - - Total due to related parties - non-current 25,971,000 18,621,000 1,000 - 0.3007 0.2637 0.0000 - Total due to related parties 355,840,706 322,833,794 290,708,658 203,202,788 4.1200 4.5722 5.1708 5.1029